Avanza Fonder AB Buys Shares of 21,526 Veralto Co. (NYSE:VLTO)

Avanza Fonder AB purchased a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,526 shares of the company’s stock, valued at approximately $2,192,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the third quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the 2nd quarter worth about $26,000. Fairscale Capital LLC bought a new stake in shares of Veralto in the 2nd quarter valued at about $30,000. Raleigh Capital Management Inc. increased its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Veralto by 140.1% during the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after acquiring an additional 255 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Veralto Stock Down 1.0 %

Shares of NYSE VLTO opened at $102.98 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto Co. has a 1 year low of $75.03 and a 1 year high of $115.00. The stock has a market capitalization of $25.47 billion, a P/E ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06. The company has a 50-day moving average price of $104.07 and a 200-day moving average price of $105.84.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $113.27.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.